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November 14, 2019

MIC approves eight projects; to create 33,000 jobs

The Myanmar Investment Commission (MIC) yesterday approved eight projects, worth US$279.88 million and over K156,930 million, which are expected to create 33,279 job opportunities.

MIC Chairman U Thaung Tun and members discuss the approval of eight projects worth over hundreds of million of US dollars during a meeting at their office in Yangon. photo: mna

The decision was reached at a meeting (17/2019) of the MIC yesterday in Yangon. The meeting was attended by MIC chairman U Thaung Tun and 10 members. The eight projects are in the real estate, education services, agriculture, and manufacturing sectors, according to a press release issued by the MIC.
Between 1988 and September-end, 2019, a total of 1,837 foreign enterprises from 50 countries have been permitted to invest in 12 sectors, with a total pledged amount of $81,874.265 million. Among them, Singapore, the People’s Republic of China, and Thailand are the leading investor countries.
The top investment sector is oil and gas, which accounts for 27.38 per cent of the total permitted foreign investment, followed by the power sector (25.87 per cent), and the manufacturing sector (14.08 per cent).—MNA

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